CFOs in poll are downbeat (more bad economic news)

[BR_Parkway]

The Associated Press
DURHAM - The nation's top financial officers remain pessimistic about U.S. business prospects, according to a quarterly survey released Wednesday.

Nearly 35 percent of CFOs polled were more pessimistic about the economy than last quarter, said the survey, conducted by Duke University's Fuqua School of Business and CFO Magazine. About 30 percent were more optimistic.

"There is considerable worry that the slump in housing activity will negatively impact consumer spending and eventually hit corporate profits," said Duke professor Campbell R. Harvey, founding director of the survey.

Those polled said they remained particularly concerned about consumer demand, rising labor costs, high health care costs and a shortage of skilled labor. The survey, concluded Nov. 20, collected responses from 446 U.S.-based chief financial officers. It also included separate responses from 353 CFOs in Asia and 194 in Europe.

http://www.newsobserver.com/126/story/516001.html

[OhioChick]

1. I'm so tired

of hearing the phrase "shortage of skilled labor." :grr:

[BR_Parkway]

2. Yeah, should be "cheap labor"

[rock]

4. "Shortage of skilled labor"

Code for cheap labor.

[wicket]

6. Nothing but a bunch of cheap labor conservatives

Cheap Labor Conservatives:

* Cheap-labor conservatives don't like social spending or our "safety net". Why. Because when you're unemployed and desperate, corporations can pay you whatever they feel like – which is inevitably next to nothing. You see, they want you "over a barrel" and in a position to "work cheap or starve".

* Cheap-labor conservatives don't like the minimum wage, or other improvements in wages and working conditions. Why. These reforms undo all of their efforts to keep you "over a barrel".

* Cheap-labor conservatives like "free trade", NAFTA, GATT, etc. Why. Because there is a huge supply of desperately poor people in the third world, who are "over a barrel", and will work cheap.

* Cheap-labor conservatives oppose a woman's right to choose. Why. Unwanted children are an economic burden that put poor women "over a barrel", forcing them to work cheap.

* Cheap-labor conservatives don't like unions. Why. Because when labor "sticks together", wages go up. That's why workers unionize. Seems workers don't like being "over a barrel".

* Cheap-labor conservatives constantly bray about "morality", "virtue", "respect for authority", "hard work" and other "values". Why. So they can blame your being "over a barrel" on your own "immorality", lack of "values" and "poor choices".

* Cheap-labor conservatives encourage racism, misogyny, homophobia and other forms of bigotry. Why? Bigotry among wage earners distracts them, and keeps them from recognizing their common interests as wage earners.

[Missy M]

3. How do we have a shortage of skilled labor in this oountry...

I don't buy that argument one bit. There are plenty of skilled workers in this country begging for jobs. What the CFOs don't like are rising labor costs, they want more profit for themselves and are more than willing to ship jobs overseas to realize higher profits.

[BR_Parkway]

8. And the whole huge difference in labor pay vs executive payroll

but they ain't giving that one up anytime soon.

[whistle]

5. Everyone needs to take a 50% cut in pay, that should take care of the problem

[JDPriestly]

7. Rising labor costs, my eye.

My pay decreased drastically after Bush took office. And as for skills, it's hard for people to develop skills while unemployed or working at McDonalds. People develop good skills by working good jobs for good pay. Pay people well, and they will perform well. After all, isn't that what CEOS tell their boards of directors? "Pay me well so I will perform well for you." What's good for the goose is good for the gander.

[w4rma]

9. There is no shortage of skilled labor. (nt)

[Coaster City]

10. Lask of skilled labor??????

Maybe it is a shortage of skilled leadership.